CNBC's Harwood Hails College Savings Tax as 'Redistribution Obama-Style'

Kyle Drennen | January 23, 2015
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More in the cross-post on the MRC's NewsBusters blog.

Appearing on CNBC's Power Lunch at 1 p.m. ET Friday, the business network's chief Washington correspondent John Harwood touted President Obama's proposal to tax 529 college savings accounts: "If you want to change the distribution of income in this country, you've got to take from some to give to the other, and that's precisely what the President wants to do. Middle class families...have stagnated for a long time...while people at the top have done much better. So the administration is trying an across-the-board attempt to change that....redistribution Obama-style."

Harwood kept pushing White House talking points: "Now, the administration says that surveys have shown that 70% of the deposits in 529 accounts are held by families with incomes of $200,000 a year or more."

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